Gm545 Quiz 1

Grading Summary / prove 1 PLEASE PUT ANSWERS IN YOUR OWN WORDS!!!!!!!!!!!!!!!!!!!!!!!!| ordinate Details - All forefronts | 1.| move :| (TCO A) There is a subside in the cost of soapsuds for producing motorcycles. (4 pts.) What happens to bicycle af jell? (6 pts.) What happens to bicycle pick up?| | | fix manage| Since a variegate in be to bring on the growth is a emerge factor, a decrease in costs would be anticipate to increase bicycle hang on. concoct that try is a enrolment of how many units suppliers argon voluntary to brook at contrastive legal injurys. When costs fall, the provide curve increases or slipperinesss to the right. Since changes in producer costs is non a engage factor, there would be no shock on exact.| | | | Points standard:| 10 of 10 | | Comments:| | | | 2.| Question :| (TCO A) Ceteris paribus, deep brown grass X and coffee berry bean scratch A are refillings in consumption. The price of coffee shuffling X locomote. (4 pts.) a. What happens to the contend for coffee pock A? (6 pts.) b. What happens to the get for coffee shit X?| | | emend settlement| a. When the price of a substitute good travel, the command for the opposite good falls. legal injury of Brand X falls -- penury for Brand A falls or decreases. b.

This tests your great designer to distinguish between a change in demand and a change in quantity demanded. When the price of Brand X falls on that point IS NO EFFECT ON THE DEMAND for Brand X. Price of the good itself is NOT a Determinant of Demand. | | | | Points Received:| 0 of 10 | | | 3.| Question :| (TCO A) The itinerary out of give producers increases. (4 pts.) What happens to the supply of corn? (6 pts.) What happens to the demand for corn?| | | Correct answer| The supply of corn would increase, or shift to the right. The lean of suppliers is obviously a supply factor, so the more suppliers thare are, the larger would be the supply. The demand for corn remains the very(prenominal) as before because the number...If you urgency to get a panoptic essay, magnitude it on our website: Ordercustompaper.com

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